PVH vs SPY: Correlation
PVH Corp. (PVH) and SPDR S&P 500 ETF Trust (SPY) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PVH and SPY?
On 3 years of weekly data the PVH/SPY correlation comes out at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.50 versus 0.37 over 3 years. The 5-year figure is 0.50, and annualized covariance runs at 232.8 %².
Within PVH's tracked universe of 19 assets, SPY comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SPY outperformed by 27.2 percentage points (-6.6% for PVH against +20.6% for SPY). One caveat on sizing: PVH is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
PVH vs SPY: side by side
| PVH (PVH Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | -6.6% | +20.6% |
| 5-year return | -28.0% | +82.4% |
| Volatility (ann.) | 43.7% | 14.5% |
| Beta vs S&P 500 | 1.11 | 1.00 |
| Max drawdown (3Y) | -56.9% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.19% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | PVH | SPY |
|---|---|---|
| 2022 | -33.7% | -18.2% |
| 2023 | +73.3% | +26.2% |
| 2024 | -13.3% | +24.9% |
| 2025 | -36.5% | +17.7% |
| 2026 | +13.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PVH and SPY good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PVH and SPY?
As of 2026-08-27, the correlation of weekly returns between PVH and SPY is 0.37 over 3 years, 0.50 over 1 year and 0.50 over 5 years.
Is SPY a good diversifier for PVH?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: PVH correlations · SPY correlations
